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A Cantor Set of Games with No Shift-Homogeneous Equilibrium Selection

Authors:

Yehuda (John) Levy

Abstract:

We construct a continuum of games on a countable set of players that does not possess a measurable equilibrium selection that satisfies a natural homogeneity property. The explicit nature of the construction yields counterexamples to the existence of equilibria in models with overlapping generations and in games with a continuum of players.